Finafrica is the first microfinance network offering insurance products in Africa and aims to become a key player in financial and insurance inclusion in the continent. The company provides better protection for micro-entrepreneurs (including their households), a lower cost of credit for borrowers benefiting from insurance and a more controlled cost of risk for microfinance institutions. This investment – comprising an equity fundraise together with a convertible bond – will enable Finafrica to consolidate its growth and pursue its network expansion strategy across Africa, reinforcing its financial inclusion mission.
About Finafrica
Founded in 2018, Finafrica is a subsidiary of Groupe Duval and is the first microfinance network offering insurance products in Africa. With its ten subsidiaries, Finafrica supports 1.2 million clients on a daily basis in five countries (Guinea, Cameroon, Senegal, Côte d’Ivoire and Rwanda).
About Proparco
Proparco is a subsidiary of the French Development Agency group and has been working alongside the private sector for over 45 years with a diversified range of financial tools adapted to the company’s different stages of development.
Founded in 2017, Trigger’s Reports has developed a unique and price-disruptive solution to make accessible security to the greatest number of people. Through its platforms, companies can assess and monitor security threats and communicate them to their staff.
Trigger’s Reports already offers its services to over 16,000 users through local and multinational corporates operating in Africa. In order to expand its client portfolio and further invest into R&D to integrate new technological features to its platform, Trigger’s Reports opened its capital to Eurofind. This growth capital investment will support the company’s product development and commercial expansion.
With over 3,000 employees spread over four countries, Eurofind is receptive to the challenges faced by companies to ensure employee-security in certain geographies. Its shareholders therefore provided Triggers’ Report with the necessary equity to achieve its growth strategy.
About Trigger’s Reports
Founded in 2017, Trigger’s Reports is a start-up based in Dakar which offers an information and alert platform for security risk management. Trigger’s Report platform also enables to geolocate people, vehicles, assets, and offers a wide range of taylormade addons.
About Group Eurofind
Founded in 1972, in Ivory Coast, Eurofind is a diversified conglomerate operating in West Africa with activities in steel processing, plastics and chemicals industry, food, agribusiness, and real estate.
Founded in 2011, IDC is a West African drilling company, with a unique positioning between local drillers and international majors. With more than thirty drilling rigs, IDC offers drilling services to the mining majors as well as to companies active in the construction and water sectors. IDC’s equity raise from Adiwale Partners, a leading West African private equity fund, will enable the company to expand further in West Africa, including in Sahel countries.
About IDC
Created in 2011 (www.idc-drilling.com/) is one of the leading African companies offering drilling services to the mining, construction, and water industries with four subsidiaries in West Africa (Senegal, Mali, Ivory Coast and Burkina Faso). IDC has been a member of the Senegalese Chamber of Mines (Chambre des Mines du Sénégal, CMDS) and the Côte d’Ivoire Chamber of Mines (Chambre Des Mines de Côte d’Ivoire, CDMCI) since 2011.
About Adiwale Partners
Adiwale Partners (www.adiwale.com) is an independent private equity fund manager founded in 2016 and based in Abidjan. It manages Adiwale Fund I, a 60 million euros fund. Adiwale Fund I offers growth capital and operational support to mid-size companies looking to strengthen their core activities and expand in West Africa and beyond. The fund invests primarily in consumer goods and services, business services and manufacturing.
Founded in 1952, SOGEDI is the oldest and largest company producing and distributing industrial gas in the Republic of Guinea. Supported by Guinea’s growth prospects, especially in the bauxite and iron mining industries, SOGEDI should consolidate its position and rapidly emerge as a regional player. The takeover by Elton Oil International, a leading petroleum products distributor in West Africa, will support SOGEDI’s growth while maintaining the highest standards of safety and reliability.
Enexus has advised the sole shareholder of SOGEDI in its sale to Elton Oil International. Through a well-structured sell-side M&A process, the transaction ensured a seamless ownership transition while preserving operational standards.
About SOGEDI
SOGEDI produces and bottles oxygen, nitrogen and acetylene, and distributes argon, carbon dioxide and other rare gases. Its customers are mainly mining companies and their subcontractors, as well as bottling companies.
About Elton Oil International
Founded in 2000, Elton Oil International distributes petroleum products in Senegal, Côte d’Ivoire, Mali, Guinea and Guinea-Bissau. Elton Oil International is a subsidiary of SAGAM, a leading West African player in security services – cash transport, electronic security, means of payment and private guard services. Elon Oil International Sagam International
BBOXX, a next generation utility, successfully closed a $50 million Series D funding round. Mitsubishi Corporation led the round followed by ENGIE Rassembleurs d’Energies (affiliated to ENGIE Group), impact investor Bamboo Capital Partners, Dutch impact investment fund DOEN Participaties and Canadian growth equity firm MacKinnon, Bennett & Company (MKB).
Ranked among the top five African start-up funding deals of 2019 (WeeTracker), this cross-border transaction marked a key milestone in supporting BBOXX’s scale-up across the continent.
About BBOXX
BBOXX is one of Africa’s leading off-grid energy suppliers. The company provides electricity to over 500,000 people and has installed more than 100,000 solar home systems in East, Central and West Africa.
About Mitsubishi Corporation
Mitsubishi Corporation is a global integrated business enterprise that develops and operates businesses together with its global network of around 1,800 companies. The Group has eight business units that operate across various industries including environmental energy, materials solutions, mineral resources, urban development & infrastructure, mobility, food, smart-life creation and power solutions industry.
